Fiscal Consolidation - Does it deliver?
AbstractThis note examines recent experiences of fiscal consolidation in a selection of euro area countries. It illustrates the pace and composition of consolidation, together with expected budgetary impacts over 2008 to 2015. The effectiveness of consolidation measures is assessed through the lens of change in the structural budget balance and headline debt ratios. The assessment takes into account efforts undertaken to date (2008-2011), together with consolidation plans over 2012 to 2014 announced as of end April 2012. Country-specific examples focus on EU-IMF Programme countries; Greece (GR), Ireland (IE), Portugal (PT), together with Spain (ES) and Cyprus (CY).
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Bibliographic InfoPaper provided by Central Bank of Ireland in its series Economic Letters with number 07/EL/12.
Date of creation: Aug 2012
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-10-06 (All new papers)
- NEP-EEC-2012-10-06 (European Economics)
- NEP-PBE-2012-10-06 (Public Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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"Large Changes in Fiscal Policy: Taxes versus Spending,"
in: Tax Policy and the Economy, Volume 24, pages 35-68
National Bureau of Economic Research, Inc.
- Alberto F. Alesina & Silvia Ardagna, 2009. "Large Changes in Fiscal Policy: Taxes Versus Spending," NBER Working Papers 15438, National Bureau of Economic Research, Inc.
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- Jean Pisani-Ferry & AndrÃ© Sapir & Guntram B. Wolff, . "EU-IMF assistance to euro area countries: an early assessment," Blueprints, Bruegel, number 779, June.
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